A new digital advertising marketplace called Tribeos aims to launch during Q3 of 2019 with ambitious plans to leverage the Bitcoin Cash (BCH) blockchain. This week news.Bitcoin.com spoke with Matt Gallant, chief executive officer of Tribeos, who explained that the platform will provide the BCH chain with a “ton of commerce.”
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Tribeos Aims to Eliminate Ad Fraud and Provide Radical Transparency of Transaction Data Using Bitcoin Cash
Tribeos is a digital advertising provider headquartered in Bermuda that was founded by Matt Gallant in 2017. The project aims to provide a more efficient advertising system that’s competitive with advertising giants like Google Adwords. The company was funded by Bitmain Technologies during the first week of August 2018 when the mining manufacturer made a $3 million seed investment in Tribeos. The team has explained they are big fans of the BCH ecosystem and Tribeos will use BCH as an integral part of its infrastructure. News.Bitcoin.com spoke with Tribeos founder Matt Gallant and the startup’s technical advisor Jonald Fyookball, the founder of the Electron Cash wallet.
Gallant explained that the startup is building an advertising network using blockchain to create the transparency that’s desperately needed. “As it stands platforms like Google Adwords, Facebook or other platforms are all black boxes where nobody knows what’s happening,” Gallant told our newsdesk. “As a result, there’s an obscene amount of fraud within the industry and the numbers range from $19 billion to $100 billion.” Gallant added that Tribeos aims to stop the fraudulent activities tied to the online advertising industry and build a successful advertising network. “So stopping ad fraud is just part of the equation as we also plan to take market share away from the existing monopolies,” Gallant emphasized.
The founder of the digital advertising marketplace added:
As a side effect Bitcoin Cash will reap the benefits from a ton of commerce.
Distributed Ledger Tech, Adshield and Gold Lantern
Jonald Fyookball, the founder and lead developer of Electron Cash, joined the conversation and explained he was working with the Tribeos engineering team. Basically, all Tribeos payments are performed onchain between advertisers and publishers, Fyookball explained. “Tribeos will take a fee between 10-12 percent which is really competitive compared to Google Adwords and other providers who take 30-50 percent,” the developer detailed.
“It’s going to be completely powered by the Bitcoin Cash chain,” Fyookball said. “We may accept payments in USD or something else but whatever they pay in, Tribeos will still be using BCH behind the scenes — So in certain circumstances, it could be like one of those things where people don’t know BCH is being used.”
Gallant remarked that Tribeos is going to work everywhere. Unlike basic attention token (BAT) which works with the Brave browser, Tribeos will be able to work with any browser, mobile, and web platform. On the cybersecurity side, Tribeos has developed a suite of software tools like Adshield, which stops bots from clicking ads in order to drain budgets. “We’re also building something called atomic traceability, which basically reveals right down to the movement of the mouse or the movement of the browser and everything that’s happening so that behavior transparency is provided,” Gallant added.
Gold Lantern, another part of the Tribeos software suite, will provide bullet-proof tracking and analytics. Between the combination of those programs and utilizing the BCH protocol’s immutable ledger, the Tribeos software will fundamentally “deliver radical transparency of transaction data that can’t be manipulated.” The founder further stated that he expects the project to launch in Q3 this year and the company is already onboarding advertisers.
Tribeos has also launched a Security Token Offering (STO), which was approved by the Bermuda Minister of Finance under new digital asset laws. The startup detailed that the STO will provide an initial public offering (IPO) type of protection within a cryptographic asset. The STO, called “FIRE,” will be based on the Simple Ledger Protocol (SLP), explained Fyookball during the conversation about Tribeos. “We’re pretty excited about that,” Fyookball remarked. Overall, the Tribeos team has high hopes of tackling some of the biggest issues within the online advertising industry. If it catches on, the Bitcoin Cash network could capture a lot of traction on the web.
What do you think about the Tribeos platform and how it aims to utilize the BCH chain? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, and Tribeos.
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